Cranbury reports $26 million fraudulent transfer after Election Day

Politics · First reported 7 Nov, 23:41 · Updated 23:49

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Cranbury Township said about $26 million intended for affordable-housing-related property purchases was sent in a fraudulent wire transfer on Sept. 28. Officials disclosed it on Nov. 6, three days after the local election; investigators had frozen nearly $17.3 million, while residents questioned the disclosure timing.

The township said a fraudulent wire transfer on Sept. 28 involved about $26 million set aside for property purchases related to affordable-housing obligations.
Mayor Lisa Knierim announced the theft on Nov. 6, three days after the local election and more than five weeks after the transfer.
Officials said investigators had frozen nearly $17.3 million and that the investigation remained active; residents raised questions about the delay in disclosure.

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Key facts

Reported transfer: About $26 million, sent Sept. 28 in a fraudulent wire transfer.
Purpose of funds: Property purchases to meet affordable-housing obligations.
Public disclosure: Nov. 6, more than five weeks after the transfer and three days after the local election.
Assets frozen: Nearly $17.3 million; approximately $8.7 million remained outside the reported freeze.
Election result: Thomas Szczur Jr. won with 63.69% to Carol Haring’s 36.32%, according to the Fox News report.
Reported next steps: Officials said they were strengthening financial oversight and exploring recovery options with insurers.